BALTIMORE, Oct. 24 /PRNewswire-FirstCall/ -- Constellation Energy
Partners LLC (NYSE: CEP) today announced a cash distribution for the third
quarter ending September 30, 2007, of $0.5625 per unit, or $2.25 per unit
on an annualized basis, for all of its outstanding common and Class A
units. The distribution represents a 22 percent increase over CEP's
distribution for the second quarter of 2007 of $0.4625 per unit. The
distribution will be payable on November 14, 2007, to unitholders of record
at the close of business on November 7, 2007.
"We are pleased to announce this distribution increase for our
unitholders. Our asset performance, progress on acquisition integration and
our disciplined approach to maintaining cash flow stability are all key
drivers in the decision to grow distributions for our unitholders, and CEP
has performed well on all of these fronts," said Felix Dawson, chief
executive officer, Constellation Energy Partners. "As we continue to
realize the impact of the recent acquisitions and our drilling program, we
will reevaluate future distribution increases. We remain confident in our
business model and our ability to deliver on the commitments we have
outlined to investors."
Constellation Energy Partners was formed -- and is partly owned -- by
Constellation Energy (NYSE: CEG), a Fortune 200 energy company with 2006
annual revenues of $19.3 billion.
Constellation Energy Partners LLC (http://www.constellationenergypartners.com)
is a limited liability company focused on the acquisition, development and
production of oil and natural gas properties, as well as related midstream
assets.
SOURCE Constellation Energy Partners LLC
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Related links:
http://www.constellationenergypartners.com
http://www.prnewswire.com/comp/084087.html/
CONTACT:
Media, Lawrence McDonnell, +1-410-470-7433,
or Investor, Tonya Cultice, +1-410-470-5619, both of
Constellation Energy Partners LLC
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